Revenue for the Property, Casualty and Direct Insurance industry benefited from a hardening price cycle that coincided with the beginning of the period. Numerous catastrophic losses led to poor profit margins, pushing the industry into a hard-pricing cycle to try to improve margins and rebuild balance sheets. Not only did profit margins expand over the five years to 2017 as a result of the hardening price cycle, but also because of bull markets in multiple asset classes in which industry operators invest. Industry revenue is forecast to increase at over the five years to 2022. Technological changes, including systems upgrades and the increased use of cloud computing, will enable industry operators to decrease operational expenses and more effectively manage risk.
Operators in this industry are primarily engaged in underwriting insurance policies that protect individuals, businesses and agencies against losses that occur as a result of property damage, liability or other risks. Industry participants also protect real estate owners or creditors against losses sustained as a result of any title defect to real property. This industry does not include insurance coverage for life, disability, accidental death, dismemberment or health risks.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.